News / Egypt
EGPC’s Plan to Avoid Power Shortage in Eid
Egypt Oil & Gas (EOG) learned that EGPC is currently working on ensuring that no power outage occurs during the coming Eid Al Adha. EGPC has set a plan to pump 270,000 tons of diesel, 34,000 tons of fuel oil, 124m cubic meter per day to power plants in the coming days.
Tarek El-Molla in Arbitration Talks with BG, Fenosa
Daily News Egypt learned that talks between Petroleum Minister Tarek El Molla, Spanish firm Fenosa, and Britain’s British Gas (BG) Group are still ongoing. El Molla stated that both companies are going to be part of the solution to the energy shortage crisis in Egypt in the next period.
MIDOR Chairman: Processing 50,000 b/d of Crude to Boost Local Supply
In exclusive statements made to Egypt Oil & Gas, Middle East Oil Refinery (MIDOR) chairman Dr. Mohamed Abdul Aziz asserted that his company was processing 50,000 b/d of crude to supply local markets with petroleum products
Tuk Tuks and Motorcycles to Be Included in Smart Card System
In an exclusive statement made to Egypt Oil & Gas (EOG), Khaled Abdul Ghani, Director of the Smart Card system, said that the new council of ministers were compiling all of the necessary statistics for those who were genuinely eligible for subsidies within the smart cards system, before launching the second phase.
EGPC Says Fuel Crisis is Over, Dues Paid on Schedule
In an exclusive statements made to Egypt Oil & Gas (EOG), EGPC Vice Executive Chairman for Operations, Amr Mustafa confirmed that the fuel crisis had come to an end in all provinces.
Egypt’s Petroleum Minister: Foreign Partner’s Monthly Oil, Gas Shares Declined by 26%
New Minister of Petroleum and Mineral Resources Tarek El Molla said that the value of foreign partners’ share of oil and gas declined by 26% from $880m in FY 2014/2015 to reach $650m per month during current FY 2015/2016.
Energy Subsidies to Decrease by 5% This Year
A source at the Petroleum Ministry told Egypt Oil & Gas that the Egyptian government only aims to reduce energy subsidies by 5% during the current budget of this fiscal year. The percentage is set at a lower than expected rate due the drop in world oil prices. This move is expected to save EGP 4b as part of the 5-year subsidy reform plan, with a sum reaching EGP 60b.
Tarek El-Molla: The Future Lies in Fuel Producing SMEs
Tarek El-Molla, Minister of Petroleum and Mineral Resources, said that encouraging the establishment of small and medium-sized petrochemical companies will provide two advantages. First, enough products for local markets, instead of imports, and secondly absorbing a large number of unemployed people, reported Egypt Oil & Gas. 
